Tag: Double Spend

TravelByBit Falls Victim to a Bitcoin Double-Spend Attack Method

A little bit of drama involving cryptocurrencies can generate a cascading effect. In Australia, a viral video demonstrating a TravelByBit double-spend attack has many retailers worried. The viral video shows only how this particular payment processor is affected. A Troublesome Development for TravelByBit TravelByBit supports both Bitcoin and Bitcoin cash at this time. However, it seems both currencies will no longer be supported moving forward. This decision was made despite …
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Bitcoin Cash Receives Two Major Improvement Proposals

It is always good to keep an eye on developments affecting various cryptocurrencies. In the case of Bitcoin Cash, two recent BUIPs have been submitted, both of which will introduce some major changes to the ecosystem as a whole. Developers need to make Bitcoin Cash more secure and successful. Secure coin splitting instructions and double-spend relaying will certainly go a long way in achieving this goal. Two new Positive BUIPs for Bitcoin …
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Vendor Using BitPay Becomes Victim of Five Bitcoin Double-spend Attacks

One particular online Bitcoin shop was the victim of several double-spend attacks while using BitPay as a payment processor. While BitPay lets merchants accept payments as “completed’ at zero- network confirmations, it is still; possible to double-spend funds. This highlights the need for payment processor ‘insurance’ all transactions will be honoured when dealing with zero-confirmation payments. A Bitcoin Double-spend For US$20 According to the Reddit post, this online shop sells …
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Electrum Faces Some Slack Over Replace-by-Fee Change

The Bitcoin world always seems to be filled with some drama, and there is a new debacle regarding the replace-by-fee structure coming to Electrum shortly. This has caused a stir among /r/BTC community members, so let’s see what all the fuss is all about. Replace-by-Fee In Electrum Is Bad? The biggest gripe people in /r/BTC seems to have with this news is how the RBF fee bumping issue was closed …
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